.avif)
Successful Sale of 152 East 55th Street in Midtown East, Manhattan
Bob Knakal successfully closed the sale of 152 East 55th Street, an office and user-occupied property in the heart of Midtown East, Manhattan. Located between Lexington and Third Avenues, the building was acquired by Robert Atkins of the Diet Center on October 31, 1990.
The three-story, approximately 15,000 square foot property stood out for its central location, compact scale, and adaptability for ownership use. Its proximity to major transit and Midtown institutions made it an ideal acquisition for an end user seeking a headquarters or flagship facility.
User Building Sales - For the complete list click here User Buildings
Sale Details
This Midtown East office property sold for $2,000,000, reflecting a price of $133.33 per square foot. The buyer, Robert Atkins, acquired the building for use as a Diet Center location. The seller was Howard B. Presant, a private individual. The deal closed on October 31, 1990.
Transaction Highlights:
- Sale Price: $2,000,000
- Buyer: Robert Atkins (Diet Center)
- Seller: Howard B. Presant
- Seller Type: Private Owner
- Asset Class: Office, User
- Date Closed: October 31, 1990
Property Details
152 East 55th Street sits between Lexington and Third Avenues in Midtown East, one of Manhattan’s most active business corridors. The property is situated on Block 1309, Lot 44, in the Manhattan borough.
This office building offered flexibility and visibility for a user buyer and featured a compact floorplate ideal for full-building occupancy.
Full Address: 152 East 55th Street, New York, NY 10022
Zoning: Office / Commercial Use
Building Class: Office / Owner-User
Investment Highlights:
- Year Built: Pre-1990 (sold in 1990)
- Stories: 3
- Building Size: Approx. 15,000 SF
- Ideal for Owner-Use or Boutique Office Setup
Market Strategy and Positioning
At the time of sale, Midtown East was undergoing a significant wave of interest from medical, legal, and service professionals seeking boutique office buildings for full occupancy. The trend of owner-users acquiring entire buildings to customize their business operations was growing in popularity, especially in Midtown’s eastern corridor.
152 East 55th Street fit this trend perfectly: a well-located, modestly sized structure ideal for conversion to a company headquarters or specialty use facility.
Neighborhood Overview
Midtown East has long been one of Manhattan’s most desirable neighborhoods for office space, known for its accessibility and professional environment. The area around 55th Street is especially valued by end-users due to its central location and steady foot traffic.
Neighborhood Highlights:
- Located near Park Avenue and Lexington Avenue, two major business arteries
- Close proximity to Bloomingdale’s, Grand Central Terminal, and the Lipstick Building
- Near multiple subway lines (E/M/6) offering direct commuter access
- Strong demand from medical, legal, and financial tenants seeking smaller footprint buildings
Conclusion
The sale of 152 East 55th Street represents a strategic acquisition by a user looking to establish a strong Midtown East presence. The building’s manageable size, central location, and flexible layout made it a prime candidate for occupancy by a business like the Diet Center.
This transaction reflects Bob Knakal’s ability to match user-buyers with purpose-driven assets and underscores his market expertise in Manhattan’s Midtown submarket.
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
Frequently Asked Questions
Q1: What type of property is 152 East 55th Street?
It is a user-occupied office building located in Midtown East, Manhattan, suitable for a single tenant or headquarters use.
Q2: Why was this building appealing to the buyer?
Its central Midtown East location, compact scale, and full-building occupancy potential made it an ideal fit for the Diet Center’s operations.
Q3: What is the price per square foot of the building?
The property sold for $133.33 per square foot, based on its 15,000 square feet of space.
